2 Beds
2 Baths
1,126 SqFt
2 Beds
2 Baths
1,126 SqFt
Key Details
Property Type Condo
Sub Type Condominium
Listing Status Active
Purchase Type For Sale
Square Footage 1,126 sqft
Price per Sqft $57
Subdivision Stewarts Ck
MLS Listing ID 760979
Bedrooms 2
Full Baths 2
HOA Fees $174/mo
HOA Y/N Yes
Year Built 1989
Property Sub-Type Condominium
Property Description
With conservative operating assumptions (taxes, insurance, HOA, and maintenance), investors can expect strong cash flow potential and an estimated cap rate in the 10–12% range, depending on expense structure. The property is currently positioned for immediate income through mid-November, minimizing vacancy risk and offering a seamless transition for a new owner.
Inside, the unit features vaulted cathedral ceilings in both the living room and primary bedroom, enhancing perceived value and tenant demand. A fireplace, breakfast bar, and dedicated dining space create a functional, attractive layout. The split-bedroom floor plan increases rental flexibility, ideal for roommates or maximizing occupancy.
Durable finishes; including laminate, carpet, and vinyl flooring—help keep maintenance costs low, while the owner's suite offers a garden tub and separate shower, adding to long-term tenant appeal and retention.
At this price point, with a strong rent-to-price ratio (~1.6%) and proven rental performance, this condo is a turnkey investment with immediate cash flow and long-term upside—ideal for investors seeking solid returns without heavy renovation or capital expenditure.
All financial figures, including rent estimates, yield, and cap rate projections, are based on current market data and typical expense assumptions. Actual performance may vary depending on ownership structure, financing, management, and operating costs. Buyers are encouraged to conduct their own due diligence and verify all information independently.
Location
State NC
County Cumberland
Community Community Pool
Rooms
Basement Crawl Space
Interior
Interior Features Breakfast Area, Ceiling Fan(s), Cathedral Ceiling(s), Storage, Separate Shower, Vaulted Ceiling(s)
Heating Other
Flooring Vinyl, Carpet
Fireplaces Number 1
Fireplaces Type Factory Built
Inclusions Refrigerator & Range in home
Fireplace Yes
Appliance Dishwasher, Microwave, Range, Refrigerator
Laundry In Unit
Exterior
Exterior Feature Balcony
Parking Features No Garage
Community Features Community Pool
Water Access Desc Public
Porch Balcony
Building
Lot Description < 1/4 Acre
Dwelling Type Apartment
Sewer Public Sewer
Water Public
New Construction No
Schools
Middle Schools Westover Middle School
High Schools Westover Senior High
Others
HOA Name Stewarts Creek HOA
Tax ID 9498-42-4119.303
Ownership More than a year
Special Listing Condition None